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more obvious than ever that crypto as a space is converging heavily into a distribution-first game

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RT @CommunityW_EN: [Heads-Up! Notice of Price Revision 📢] The "Flag Items" sold in the in-game shop & on PlayMining NFT are currently avai…

Aptos Labs and Jump Crypto are teaming up to launch a new decentralized hot storage network dubbed ‘Shelby.’ In an announcement posted on X , the Aptos Labs team said Shelby will be web3 ’s first cloud-grade infrastructure and will offer access to decentralized, monetizable storage for data-rich applications. Shelby is designed to tap into Aptos ( APT ) to address the gap in existing decentralized infrastructure protocols, with its chain-agnostic architecture offering sub-second reads. Apart from millisecond settlement, Shelby ensures ease of access and monetization. On why they are building the new cloud-grade storage protocol, Jump Crypto wrote on X: “While blockchains today have mostly solved the ability to execute code, they cannot access large datasets. More importantly, they cannot SERVE large datasets at scale and speed. Hence, we are building Shelby.” Shelby will power real-time web3 applications, with notable use cases including streaming, artificial intelligence inference, composable in-game assets, social dynamic NFTs, and decentralized physical infrastructure networks. “There is a large opportunity to unbundle large parts of the AWS bundle,” said Kyle Samani, managing partner at Multicoin Capital. “Ambitious swing here,” he added on X. Early contributors and collaborators include Metaplex, an NFT platform on Solana ( SOL ), Pipe Network, a decentralized content delivery network on Solana, and Story, the world’s IP blockchain. Others include Myco, DoubleZero, and Flashback Labs, across streaming, infra, and AI respectively. David Rhodus, founder of Permissionless Labs, a core contributor to the Pipe Network, also commented on the upcoming launch. “We’re proud to be among the first builders on Shelby because its global high performance storage network makes more data available for the Pipe Network to serve at high throughput. Our Point of Presence nodes will ensure a smoother user experience because our DePIN enabled footprint provides large coverage of last mile endpoints in the areas where Shelby doesn’t have connectivity.” Aptos will be Shelby’s early settlement layer, allowing for sub-second finality and high-throughput coordination, with real-time data access across any chain.

After a brutal 70% plunge from May highs, PI claws back 5% as the Core Team hints at a GenAI pivot. But with unlock pressures mounting, this rebound may be fragile, raising questions about long-term viability beyond hype cycles. According to CoinMarketCap data, Pi Network (PI) price surged nearly 5% on June 23, staging a modest rebound after weeks of selling pressure. The move appears to be fueled by mounting speculation around an upcoming June 28 announcement from the Pi Core Team, which has teased potential integration of GenAI features within the Pi ecosystem. The token climbed from a daily low of $0.5126 to as high as $0.552 on the back of the latest news, but skepticism lingers. While AI narratives have propelled other projects this cycle, Pi Network’s closed mainnet and delayed roadmap leave investors questioning whether this is a genuine pivot or a tactical distraction ahead of a looming supply glut. The recent 5% bounce in Pi Network’s price hinges almost entirely on speculation, specifically the Pi Core Team’s vague teaser about a potential GenAI integration. The timing is notable: the announcement is set for June 28, known as “Pi2Day” within the community, just weeks before 268.4 million PI tokens flood the market in July. How is GenAI related to Pi Network? Why did one of two Pi Founders, Nicolas Kokkalis, participate in a GenAI panel at Consensus 2025? Answer on Pi2Day (6.28.2025) 268.4 million PI tokens being released into the market would mark the project’s largest monthly token release until at least October 2027. If history is any guide, such unlocks often trigger sell-offs, especially when investor confidence is shaky. While traders seem to be betting on the optimism, evident by Pi Network’s 3.96% surge in 24-hour trading volume, the token is still reeling from a 70% collapse since its May peak of $1.67, a drop that began the same day Pi co-founder Nicolas Kokkalis appeared on a GenAI panel at Consensus 2025. The May event, which was ironically meant to bolster credibility, instead sparked a 27% single-day crash, suggesting the market is increasingly skeptical of hype disconnected from tangible progress. Worse, despite the recent uptick, PI remains 82% below its all-time high of $2.98, set in February, a grim reminder of how far the token has fallen from its speculative frenzy earlier this year. Pi Network still operates on a closed mainnet, with no clear timeline for full decentralization or open trading. While the GenAI narrative has buoyed other projects this cycle, PI’s lack of utility and delayed roadmap make it vulnerable to “buy the rumor, sell the news” behavior. For now, traders are playing a risky game. The June 28 announcement could either reignite bullish momentum, if it delivers real tech, or accelerate another sell-off if it’s another vague promise. Either way, with millions of tokens about to hit the market, Pi Network’s recovery looks fragile at best.